Ready To Rumble
A stronger-than-expected showing for the first quarter GDP has stocks is a
good mood Friday, and all three major averages are looking at solid openings.
First quarter GDP came in at 2.0%, which was much higher than the 1.0%
analysts expected, and that might suggest that the doom-and-gloom scenario of a
prolonged recession might not play out as many had feared.
The Dow futures are up 83 points, and the Nasdaq futures are up 42 points.
The S&Ps look to open up 12.6 points while the yield on the 10-year
Treasury is 5.18%.
Friday Movers
Versign
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VRSN |
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PowerRating) trounced earnings estimates Thursday after the bell when
it posted earnings of 23 cents per share, beating Street estimates by 10 cents.
Verisign is up sharply and is trading up to 52.70 following its Thursday close
of 46.22.
Following a 4-day pullback and close on its 50-day moving average, BEA
Systems
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PowerRating) is set for an up open. BEAS closed Thursday at 35.66 and is
currently trading up to 37.75 in pre-market activity.
In the chips, Applied Materials
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AMAT |
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PowerRating) is looking at a positive open and
is currently trading up to 52.00 following a Thursday close of 50.84.
After a rough Thursday following an earnings warning, wireless leader
Qualcomm
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QCOM |
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PowerRating) is set for a bounce and is currently trading up to 59.85
following a Thursday close down 4.87 to 58.05.